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Friday, 6 November 2015

Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tipsat very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.

Turmeric settled up by 0.52% at 9258 on rising North India demand amidst falling stocks and lack of good quality stocks in mandis. Moreover, reports of lower sowing and water stress conditions in major turmeric growing state also supported the prices. Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality but lower area in Telangana may reduce production this year. Sources also stated that around 40 lakh bags of total stocks have been reported in local mandies. While the total production in the coming year is expected to be around 55-60 lakh bags.Technically market is under fresh buying as market has witnessed gain in open interest by 10.27% to settled at 15140 while prices up 48 rupee, now Turmeric is getting support at 9140 and below same could see a test of 9020 level, And resistance is now likely to be seen at 9360, a move above could see prices testing 9460. Trading Ideas: Turmeric trading range for the day is 9020-9460. Turmeric prices gained on rising North India demand amidst falling stocks and lack of good quality stocks in mandis. Moreover, reports of lower sowing and water stress conditions in major turmeric growing state also supported the prices. NCDEX accredited warehouses turmeric stocks dropped by 207 tonnes to 7341 tonnes.In Nizamabad, a major spot market in AP, the price ended at 9028.55 rupees gained 30.85 rupees.

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Soyabean settled up by 0.25% at 4031 as prices seen supported on concerns over lower supply in domestic market and on improvement in demand for the crop in global market. The Soybean Processors Association of India said in its second advance estimates reported that India's total soybean production in 2015 is estimated to fall by 16.09% due to scanty monsoon. Total 2015 soybean production is estimated to be 7.3 million tons compared to 8.7 million tons a year ago, SOPA said. Soybean yield in 2015 is estimated to fell by 16.18% to 667,000 kilograms per hectare compared to 790,000 kilograms per hectare in previous year while sowing area as per government estimates stood at 5.9 million hectare compared to 5.5 million hectare a year ago.

Trading Ideas: Soyabean trading range for the day is 3958-4080. Soyabean prices gained prices seen supported on concerns over lower supply in domestic market SOPA said in its second advance estimates reported that India's total soybean production in 2015 is estimated to fall by 16.09%. NCDEX accredited warehouses soyabean stocks gained by 608 tonnes to 13100 tonnes. At the Indore spot market in top producer MP, soybean remains unchanged at 0 rupee to 3800 rupee per 100 kgs.

Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tipsat very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.

Wall Street closed lower on Thursday as energy shares were weighed down by falling crude prices while U.S. treasury yields rose and gold prices fell as investors bet U.S. jobs on Friday could help prompt an interest rate hike as soon as next month.

A day after Federal Reserve Chair Janet Yellen referred to December as a "live possibility" for a U.S. rate hike, investors were waiting for Friday's key monthly nonfarm payrolls report to gauge if the data is strong enough to prompt a liftoff.“This is a big piece of data as to what the Fed is looking for. If it shows up weak we may not get a rate hike,” said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado, adding that stocks could rise on a strong jobs number as it would be a good sign for the economy."I think everybody wants them to move or not move. The month-to-month stuff is killing everybody," he said as the market has been whipsawed all year by speculation on timing of a rate hike.The Dow Jones industrial average fell 4.15 points, or 0.02 percent, to 17,863.43, the S&P 500 lost 2.38 points, or 0.11 percent, to 2,099.93 and the Nasdaq Composite dropped 14.74 points, or 0.29 percent, to 5,127.74.Weak oil prices weighed on energy and a slump in gold and copper dragged on the materials sector. Energy shares led the S&P decline with a 1 percent drop. Interest-rate-sensitive utilities were the next weakest sector, followed by materials .U.S. two-year Treasury yields hit their highest in 4-1/2 years on Thursday on intensifying expectations for a December Fed liftoff, while long-dated yields also rose on fresh corporate supply.

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Gold remained under immense selling pressure for the fifth consecutive day at the domestic bullion market here today due to sluggish offtake by stockists and retailers in the face of bearish overseas sentiment. Elsewhere, silver also plummeted sharply following frantic unwinding by speculative traders. Meanwhile Prime Minister Narendra Modi today launched three ambitious schemes to reduce the physical demand for gold and fish out 20,000 tonnes of the precious metal worth USD 800 billion lying idle with households. The Gold Monetisation Scheme (GMS), 2015 will offer option to resident Indians to deposit their precious metal and earn an interest of up to 2.5 percent; while under the Sovereign Gold Bonds Scheme, investors can earn an interest rate of 2.75 percent per annum by buying paper bonds. Modi also unveiled the first ever Indian gold coin & bullion, bearing national emblem Ashok Chakra on one side and Mahatma Gandhi's image engraved on the other side. Standard gold (99.5 purity) declined by Rs 75 to end at Rs 25,875 per 10 grams from overnight closing level of Rs 25,950. Pure gold (99.9 purity) also dropped by a similar margin to settle at Rs 26,025 per 10 grams compared to Rs 26,100 on Wednesday. Silver (.999 fineness) plunged by Rs 450 per kg to finish at Rs 36,000 against Rs 36,450 earlier.

Thursday, 5 November 2015

Gold stretched its losing streak to fourth straight day and shed Rs 325 to close below the significant Rs 26,000 barrier - its lowest level in one month -- at the domestic bullion market here today following heavy unwinding by stockists and speculative traders.

Domestic sentiment turned extremely bearish and volatile after the yellow-metal plummeted to four-week low in worldwide trade overnight ahead of a slew of comments from Federal Reserve policymakers and release of key US macro data amid rally in global stocks. .

The shiny-metal has been under immense pressure since last week in the wake of unexpectedly hawkish comments from the Federal Reserve as well as fears over an imminent rate rate hike in December.

Elsewhere, silver also dropped on the back of sluggish demand from industrial users.

Standard gold (99.5 purity) plunged by Rs 325 to finish at Rs 25,950 per 10 grams from Tuesday's closing level of Rs 26,275. Pure gold (99.9 purity) also slumped by a similar margin of Rs 325 to conclude at Rs 26,100 per 10 grams against Rs 26,425 earlier.

Wednesday, 4 November 2015

Cardamom prices fell by 0.09 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for November 2015 contract were trading at Rs. 746.30 per kg, down by 0.05 per cent, after opening at Rs. 744.10 against the previous closing price of Rs. 746.70. It touched the intra-day low of Rs. 742 till the trading. (At 10.45 AM today).

Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

Gold steadied after a five-day slide on Wednesday, but continued to languish near its lowest in four weeks, hurt by fears of a US rate hike this year and investor outflows. FUNDAMENTALS * Spot gold had ticked up 0.4 percent to USD 1,121.30 an ounce by 0036 GMT, after sliding over 4 percent in the last five sessions. * The metal slumped to USD 1,114.10 on Tuesday, the lowest since Oct. 2. US gold futures GCcv1 also slid to a one-month low of USD 1,113.60 in the previous session. * Bullion has been under pressure since the Federal Reserve last week hinted at a rate hike in December, reversing earlier market expectations that the first US rate increase in nearly a decade could be delayed to next year on global growth concerns. * Gold tends to benefit from very low rates as a non-interest-paying asset.* Strength in the dollar and equities were also dragging on gold. Asian shares rose on Wednesday, taking early cues from overnight Wall Street gains, while sharper risk appetite from investors lifted US debt yields and supported the dollar.

* Soft economic data on Tuesday failed to lift gold. New orders for US factory goods fell for a second straight month in September as the manufacturing sector continues to struggle under the weight of a strong dollar and deep spending cuts by energy companies.

* Bullion traders are waiting for more US data to gauge the strength of the economy and its impact on the Fed's monetary policy.

US crude futures edged up early on Tuesday, but the market outlook remains bearish as supply still exceeds demand and due to worries the dollar will strengthen when the US Federal Reserve eventually raises interest rates.

Benchmark US crude futures CLc1 were trading at USD 46.27 per barrel at 0028 GMT, up 13 cents from their last settlement.

The slight rise followed falls in the previous session as Russian production hit a post-Soviet peak while China's demand outlook weakened.

"Crude continues to remain under pressure due to emerging supply-side news and slowing Chinese demand.

Russian oil output broke a post-Soviet record in October for the fourth time this year. News from Iran is also painting a negative picture," ANZ bank said in a morning note.

In North America, US crude oil stockpiles likely rose by 2.7 million barrels last week, growing for a sixth consecutive week, a Reuters poll showed.

Industry group the American Petroleum Institute (API) will issue its preliminary inventory data on Tuesday before official numbers on Wednesday from the US government. At the same time, traders are keeping an eye on US monetary policy as a rise in American interest rates would likely push up the dollar against other currencies, making oil imports more expensive in some other countries.

Monday, 2 November 2015

Turmeric settled down -2.18% at 8984 on the back of upsurge in arrivals. Though, some losses were capped by rising upcountry demand from north India pockets. Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality but lower area in Telangana may reduce production this year. As on latest sowing data, turmeric sowing In AP, is recorded at 15,864 hectares increase over last years’ acreage as well normal sowing area progress however in Telangana, the sowing area is lower than the normal sowing area at 40,823 hac compared to 43,470 hac last year.Trading Ideas: Turmeric trading range for the day is 8814-9226. Turmeric prices ended with losses on the back of upsurge in arrivals. Though, some losses were capped by rising upcountry demand from north India pockets. NCDEX accredited warehouses turmeric stocks dropped by 334 tonnes to 7733 tonnes.In Nizamabad, a major spot market in AP, the price ended at 8845.45 rupees dropped -39.75 rupees.

Soyabean settled down -2.23% at 3909 on hope of higher supply in domestic and on weak demand for Indian soymeal in export market.

According to the Central Organization for Oil Industry & Trade (COOIT) soybean area under cultivation for the year 2015-16 is estimated to stood at 11.6 million tons compared to 10.9 million tons for the same period a month ago.

India soymeal exports during Apr-Sep dropped 61.50% from a year earlier on higher prices of the soybean in the local market, data released from Solvent Extractors Association of India (SEA) showed. Brazil, the world's third biggest soybean producer, 2015-15 output rose to 100 million tons compared to 97 million tons in previous month and compared to 106.9 million tons a year ago, the USDA said.Trading Ideas: Soyabean trading range for the day is 3836-4016. Soyabean prices dropped on hope of higher supply in domestic and on weak demand for Indian soymeal in export market. Brazil’s 2015-15 output rose to 100 million tons compared to 97 million tons in previous month and compared to 106.9 million tons a year ago, USDA said. NCDEX accredited warehouses soyabean stocks gained by 132 tonnes to 8434 tonnes. At the Indore spot market in top producer MP, soybean dropped -55 rupee to 3734 rupee per 100 kgs.

Monday's falls came after gains made last week following a further decline in the US oil rig count which indicated that domestic crude production could drop in coming months.

But in Asia, the possibility of slowing demand in China dominated trade on Monday, with growth faltering in the world's No.2 economy.

While China has so far avoided a hard landing, activity in China's manufacturing sector contracted in October for a third straight month, an official survey showed on Sunday, fuelling fears the economy may still be losing momentum in the fourth quarter despite a raft of stimulus measures.